STRICTLY EMBARGOED, 13:00 UK BST, 2nd April 2019 – The global recorded music market grew by 9.7% in 2018, the fourth consecutive year of growth, according to IFPI, the organisation that represents the recorded music industry worldwide. Figures released today in IFPI’s Global Music Report 2019 show total revenues for 2018 were US$19.1 billion.
Streaming revenue grew by 34.0% and accounted for almost half (47%) of global revenue, driven by a 32.9% increase in paid subscription streaming. There were 255 million users of paid streaming services at the end of 2018, with paid streaming accounting for 37% of total recorded music revenue. Growth in streaming more than offset a 10.1% decline in physical revenue and a 21.2% decline in download revenue.
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